Meritor Awarded Volta Trucks Business to Produce Electric Powertrains
Meritor, Inc. (NYSE: MTOR) announced a three-year supply agreement with Volta Trucks to provide its Blue Horizon™ 14Xe™ integrated ePowertrain for electric commercial vehicles. This collaboration aims to enhance the production of the Volta Zero, a 16-tonne electric truck designed for urban distribution, expected to launch in 2022. Meritor's expertise in electric powertrains aligns with Volta Trucks' vision for sustainable commercial mobility.
- Three-year supply agreement with Volta Trucks enhances market presence.
- Collaboration positions Meritor to benefit from the growing electric vehicle sector.
- Volta Zero truck production anticipated in 2022 contributes to revenue potential.
- Dependence on Volta Trucks for sales may pose risks if production timelines are delayed.
TROY, Mich., Feb. 3, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced it has entered into a three-year supply agreement with Volta Trucks, a London-based electric commercial vehicle startup. Meritor will supply Volta Trucks with its Blue Horizon™ 14Xe™ integrated ePowertrain.
"Meritor is excited to work with Volta Trucks to bring electric commercial vehicles to the European market. Our expertise and investment in advanced technologies has made it possible to offer customers, like Volta Trucks, solutions to meet their electrification needs," said Ken Hogan, Meritor's senior vice president and president of Truck, Europe and Asia Pacific.
"Meritor and Volta Trucks share a common vision for the future of commercial vehicle mobility – one that is safe and sustainable," said Rob Fowler, CEO of Volta Trucks. "As Volta Trucks seeks to strengthen its position as a leading manufacturer of electric commercial vehicles, we look to partners like Meritor to bring us technologies to achieve our goals."
Meritor's 14Xe all-electric, fully integrated, commercial electric powertrain for medium- and heavy-duty commercial vehicles will be equipped on the Volta Zero, which Volta Trucks introduced in September 2020. This purpose-built full-electric 16-tonne commercial vehicle, designed specifically for inner-city parcel and freight distribution, is anticipated to go into production in 2022 in the UK.
About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 8,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/meritor-awarded-volta-trucks-business-to-produce-electric-powertrains-301221050.html
SOURCE Meritor, Inc.
FAQ
What is the supply agreement between Meritor and Volta Trucks about?
When is the Volta Zero expected to go into production?
What impact could the Meritor and Volta Trucks partnership have on MTOR stock?
